Chase Sapphire Cards: News and Offers

The Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® are two of the most popular travel rewards credit cards on the market. To make sure they stay popular, Chase has repeatedly tweaked their benefits and features over the years. This page tracks some of the most significant changes, including their rewards rates, perks and bonus offers. Offers that have expired are marked.

First, here’s a look at what the cards currently offer:

From Feb. 1, 2023, through March 31, 2025, holders of the Chase Sapphire Reserve® can earn 10 points per dollar spent on eligible Peloton purchases, up to a maximum of 50,000 points. Eligible purchases include equipment or accessories over $250, such as Peloton bikes, treadmills and rowing machines, as well as Peloton Guide, a strength-training program that uses a camera to help you work on your form. Purchases must be made directly through Peloton and paid in full at the time of purchase. (This means that financing equipment with Affirm will not result in extra points.) Apparel and app memberships also aren’t eligible.

Chase Sapphire Reserve® cardholders had previously been offered a free year’s membership in the “Lyft Pink” loyalty program. Effective Nov. 15, 2022, that offer was upgraded. Cardholders would then receive complimentary Lyft Pink All Access membership for two years and 50% off for their third year. All Access is the highest tier membership available from Lyft and retails for $199. It includes:

• Faster pickups with Free Priority Pickup upgrades.

• 10% off all luxury ride types.

• Free ride cancellation, up to three times per month.

• Free roadside assistance for your own car up to four times per year.

• Free SIXT car rental upgrades.

• Unlimited free 45-min classic bike rides.

• Free unlimited e-bike and scooter unlocks, plus discounted rates.

• 3 bike or scooter guest passes per year.

Cardholders continue to earn 10 points per dollar spent on Lyft rides, a promotion that began in 2020 and has been extended through March 2025.

Expired offer: In mid-October 2022, the Chase Sapphire Reserve® offered a sign-up bonus of 80,000 points, which was available until Dec. 1, 2022. This was the biggest sign-up incentive on the card since the 100,000-point bonus it debuted with (to great fanfare) in 2016.

On Aug. 16, 2021, Chase rolled out the biggest set of changes to the Chase Sapphire Reserve® since the card’s debut five years earlier. Those changes included new bonus categories:

• 10 points per dollar spent on Chase Dining purchases.

• 10 points per dollar on hotel stays and rental cars booked through Chase.

• 5 points per dollar on airfare booked through Chase.

The card continued to earn 3 points per dollar on dining and on travel not booked through Chase, and 1 point per dollar on other purchases. Other benefits of the card were largely unchanged, and its annual fee remained $550.

Expired offer: The sign-up bonus on the Chase Sapphire Reserve® got a temporary bump in March 2021. That offer: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That was 10,000 points bigger than the standard bonus at the time.

Expired offer: From March 2021 through March 2022, the Chase Sapphire Reserve® earned 10 points per $1 spent on each Peloton Bike, Tread and accessory purchase of over $1,800, for a maximum of 50,000 points.

Expired offer: In a limited-time promotion that began in early 2021, holders of the Chase Sapphire Reserve® could earn 10 points per dollar spent on Chase Dining purchases (including takeout and prepaid reservations), on up to $500 in spending. The promotion ended on June 30, 2021, but 10x rewards on Chase Dining purchases later became a standard benefit of the Chase Sapphire Reserve®. Also, through Sept. 30, 2021, Chase Sapphire Reserve® holders could redeem points for Chase Dining purchases at a rate of 1.5 cents per point.

Expired offer: Chase added another round of bonus grocery rewards as the COVID-19 pandemic lingered. From Nov. 1, 2020, through April 30, 2021, the Chase Sapphire Reserve® earned 3 points per dollar spent at grocery stores, up from the usual 1 point per dollar.

Expired offer: Starting in October 2020 and running through June 2022, Chase Sapphire Reserve® cardholders could earn up to $120 in statement credits on Peloton Digital and All-Access memberships. Digital memberships cost about $13 a month at the time; All-Access memberships, $39 a month.

Expired offers: From July 1 to Sept. 30, 2020, Chase Sapphire Reserve® cardholders could earn bonus rewards on spending that was soaring in the midst of the COVID-19 pandemic:

• Instacart: 5 points per $1 spent on Instacart delivery and pickup orders, on up to $3,000 in spending during the three-month promotional period.

• Gas stations: 5 points per dollar, on up to $1,500 spent at gas stations over the three-month period.

• Streaming: 10 points per dollar, on up to $1,500 in purchases with select streaming services like Spotify and Netflix during the promotional period.

Expired offer: As the COVID-19 pandemic took hold and Americans quarantined at home, Chase added bonus rewards on groceries to a host of travel credit cards that might have otherwise seen little use. Holders of the Chase Sapphire Reserve® would earn 5 points per dollar spent at grocery stores, on up to $1,500 a month in spending, from May 1 to June 30, 2020.

Expired offer: With most travel on hiatus due to the COVID-19 pandemic, Chase gave cardholders new options to redeem points for statement credit against certain purchases. Notably, holders of the Chase Sapphire Reserve® were able to get the same 1.5-cents-per-point value as they received when redeeming points for travel bookings. Eligible categories for the “Pay Yourself Back” program have included grocery stores and gas stations. The program evolved as time went on, with categories and redemption options changing. Find the latest on Pay Yourself Back here.

The annual fee on the Chase Sapphire Reserve® increased from $450 to $550 in January 2020. It was the first time the fee had increased since the card launched in 2016. For new applications, the higher fee took effect on Jan. 12. For existing cardholders, the new fee was charged the first time their account came up for renewal after April 1, 2020. Meanwhile, Chase also added two new perks for holders of the Chase Sapphire Reserve®:

• Lyft: Chase announced that cardholders would earn 10 points per dollar spent on Lyft rides, a significant boost from the 3 points per dollar that cardholders earn for other travel purchases. (This 10x promotion remains in effect through March 2025.) Cardholders also got a free year of “Lyft Pink,” the rideshare company’s paid membership program, with benefits including discounts on rides, priority pickups and a number of free bike and scooter rentals. (The Lyft Pink offer has expired.)

• DoorDash: Chase also announced that Chase Sapphire Reserve® cardholders would get a $60 statement credit in 2020 and 2021, for a total of $120, as well as a one-year subscription to DashPass. (This offer has expired.)

Chase announced that it had partnered with hospitality company SBE to provide benefits to Chase Sapphire Reserve® cardholders who stay at select SBE luxury hotels, including locations in the Bahamas, Istanbul, Miami and Las Vegas. Cardholders who book through SBE’s promotional reservation page using their Chase Sapphire Reserve® can qualify for certain benefits, including: the fourth night free for every four consecutive nights booked; a $30 hotel credit per room, which can be used toward food and beverage; complimentary room upgrades, when available; daily continental breakfast for two people; free Wi-Fi; and late checkout, when available.

In May 2018, Chase announced three noteworthy changes to some of the signature perks on the Chase Sapphire Reserve®. These changes would take effect Aug. 26 of that year.

• $300 travel credit: Purchases that qualify for this credit would no longer earn points. In other words, cardholders got an automatic statement credit for the first $300 in travel purchases each year. Once they’d spent $300, they’d earn 3 points per dollar on spending. Previously, you earned 3x points on all travel spending — including those purchases reimbursed via the automatic credit.

• Price protection: Chase discontinued this perk, which refunded a portion of the purchase price of an item you had bought if you found it advertised for less.

• Priority Pass: Cardholders who activated and used the card’s airport lounge benefit — a complimentary Priority Pass Select membership — would be limited to two guests per membership card. Previously, the card didn’t set a limit. Cardholders would be charged $27 per additional guest.

Chase Sapphire Reserve® cardholders who had activated the card’s complimentary Priority Pass Select membership gained the ability to set up a digital membership card on their phone. That reduced the risk that they would be unable to access airport lounges because they had forgotten to bring along their physical membership card.

In a policy change that took effect Aug. 27, 2017, Chase prohibited consumers from holding more than one Sapphire-branded card. Cardholders who already had more than one Sapphire card were allowed to keep them, but the door was shut on new approvals for people already carrying one. So if you have only a Chase Sapphire Reserve®, you won’t be approved for a Chase Sapphire Preferred® Card, and vice-versa.

The $300 travel credit on the Chase Sapphire Reserve® originally operated on a calendar-year basis. The first $300 in travel purchases each calendar year would get reimbursed through statement credits. That created an opportunity for opportunists and optimizers: Apply for the card late in the year, get $300 in credit, wait just a few weeks for the credit to reset, then get another $300 in credit. Chase put a stop to that for applications received from May 21, 2017, onward. For those cardholders, the credit operates on a “cardholder year” basis. If you open your account on, say, Oct. 12, then that’s when the credit resets each year.

Expired offer: From about May until August 2017, holders of the Chase Sapphire Reserve® who closed a new mortgage with Chase were eligible to receive 100,000 bonus points. This offer was good only for new mortgages — not refinancings or home equity loans. The offer expired Aug. 6, 2017.

Expired offer: Five months after it debuted with an astounding 100,000-point bonus offer (which was worth $1,500 when redeemed for travel booked through Chase), the Chase Sapphire Reserve® came back to Earth a little. On Jan. 12, 2017, the bonus offer dropped down to 50,000 points for online applications. The 100,000-point offer remained available in person at Chase bank branches for a little longer — until March 11.

Expired offer: The launch of Chase’s premium travel credit card was easily the biggest credit card story of 2016. The $300 automatic travel credit made up for a large chunk of the annual fee (initially $450), and the 100,000-point bonus offer at launch made up for the rest of it for years to come. The card proved so popular that Chase temporarily ran out of the special metal used to make the card. Chase CEO Jamie Dimon said in December of that year that the overwhelming interest in the card and the sign-up bonuses paid out would likely cut Chase’s profit by $200 million to $300 million in the fourth quarter of 2016, according to a Bloomberg article.

Expired offer: For the second April in a row, the Chase Sapphire Preferred® Card offered an 80,000-point sign-up bonus in April 2023. The offer expired May 25, 2023.

From Feb. 1, 2023, through March 31, 2025, holders of the Chase Sapphire Preferred® Card can earn 5 points per dollar spent on eligible Peloton purchases, up to a maximum of 25,000 points. Eligible purchases include equipment or accessories over $250, such as Peloton bikes, treadmills and rowing machines, as well as Peloton Guide, a strength-training program that uses a camera to help you work on your form. Purchases must be made directly through Peloton and paid in full at the time of purchase. (This means that financing equipment with Affirm will not result in extra points.) Apparel and app memberships also aren’t eligible.

Expired offer: The sign-up bonus on the Chase Sapphire Preferred® Card increased to 80,000 points in mid-April 2022, then returned to the previous amount (60,000 points) at the end of May 2022.

On Aug. 16, 2021, the Chase Sapphire Preferred® Card received the most significant upgrade to its ongoing benefits in years. Those included new bonus categories:

• 5 points per dollar spent on all travel booked through Chase.

• 3 points per dollar on dining (up from 2 points per dollar previously).

• 3 points per dollar on select streaming services.

• 3 points per dollar on online grocery purchases (not including Target, Walmart and wholesale clubs).

The card continued to earn 2 points per dollar on travel not booked through Chase and 1 point per dollar on other purchases. The card also added two significant benefits:

• A $50 annual credit on hotel stays purchased through Chase.

• Each account anniversary, cardmembers will earn bonus points equal to 10% of total purchases made the previous year.

Other benefits of the card were largely unchanged, and the annual fee remained $95.

Expired offer: The Chase Sapphire Preferred® Card rolled out its most lucrative offer up to that point on June 4, 2021. For a limited time, cardholders who spent $4,000 on purchases in the first three months could get 100,000 bonus points. That was a 20,000-point jump from the previous special offer and 40,000 points higher than the standard offer at the time.

Expired offers: The sign-up bonus on the Chase Sapphire Preferred® Card got a decent boost in March 2021. That offer: Earn 80,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That was 20,000 points bigger than the standard bonus at the time. The $50 grocery credit for new cardholders that had been added in January 2021 remained in effect (although it has since expired).

Expired offer: From March 2021 through March 2022, the Chase Sapphire Preferred® Card earned 5 points per $1 spent on each Peloton Bike, Tread and accessory purchase of over $1,800, for a maximum of 25,000 points.

Expired offers: In a limited-time promotion that began in early 2021, holders of the Chase Sapphire Preferred® Card could earn 10 points per dollar spent on Chase Dining purchases (including takeout and prepaid reservations), on up to $500 in spending. The promotion ended on June 30, 2021. Also, through Sept. 30, 2021, Chase Sapphire Preferred® Card holders could redeem points for Chase Dining purchases at a rate of 1.25 cents per point.

Expired offer: As an incentive to apply for a travel credit card at a time when travel was drastically curtailed by the COVID-19 pandemic, the Chase Sapphire Preferred® Card offered new cardholders an automatic $50 statement credit for grocery store purchases. The credit was available for 12 months from account opening, with no activation required or spending threshold to meet.

Expired offer: Chase added another round of bonus grocery rewards as the COVID-19 pandemic lingered. From Nov. 1, 2020, through April 30, 2021, the Chase Sapphire Preferred® Card earned 2 points per dollar spent at grocery stores, up from the usual 1 point per dollar.

Expired offer: Starting in October 2020 and running through June 2022, Chase Sapphire Preferred® Card cardholders could earn up to $60 in statement credits on Peloton Digital and All-Access memberships. Digital memberships cost about $13 a month at the time; All-Access memberships, $39 a month.

Expired offer: Chase temporarily sweetened the bonus offer on the Chase Sapphire Preferred® Card starting Sept. 15, 2020. Cardholders who spend $4,000 in the first three months could earn 80,000 bonus points — up from the 60,000-point offer that was standard at the time. The offer ended a few months later.

Expired offers: From July 1 to Sept. 30, 2020, Chase Sapphire Preferred® Card holders could earn bonus rewards on spending that was soaring in the midst of the COVID-19 pandemic:

• Instacart: 3 points per $1 spent on Instacart delivery and pickup orders, on up to $3,000 in spending during the three-month promotional period.

• Gas stations: 3 points per dollar, on up to $1,500 spent at gas stations over the three-month period.

• Streaming: 5 points per dollar, on up to $1,500 in purchases with select streaming services like Spotify and Netflix during the promotional period.

Expired offer: As the COVID-19 pandemic took hold and Americans quarantined at home, Chase added bonus rewards on groceries to a host of travel credit cards that might have otherwise seen little use. Holders of the Chase Sapphire Preferred® Card would earn 3 points per dollar spent at grocery stores, on up to $1,500 a month in spending, from May 1 to June 30, 2020.

Expired offer: With most travel on hiatus due to the COVID-19 pandemic, Chase gave cardholders new options to redeem points for statement credit against certain purchases. Notably, holders of the Chase Sapphire Preferred® Card were able to get the same 1.25-cents-per-point value as they received when redeeming points for travel bookings. Eligible categories for the “Pay Yourself Back” program have included grocery stores and gas stations. The program evolved as time went on, with categories and redemption options changing. Find the latest on Pay Yourself Back here.

Chase announced that several cards would begin earning extra rewards on Lyft rides. Chase Sapphire Preferred® Card holders would earn 5 points per dollar spent on Lyft rides. The end date for this promotion has been extended, and it is now available through March 2025.

Expired offer: On March 19, 2018, Chase temporarily bumped up the sign-up bonus on the Chase Sapphire Preferred® Card, offering 60,000 points if you met the requirement of spending $4,000 in the first three months your account was open. That was 10,000 more points than the standard offer at the time. Keeping in mind that points were worth 1.25 cents when redeemed for travel booked through Chase, that made the bonus worth an extra $125. However, at the same time, Chase announced that the annual fee on the Chase Sapphire Preferred® Card (which was $95 at the time) would no longer be waived in the first year. So for new cardholders, the net effect was a $35 boost in value.

Holders of the Chase Sapphire Preferred® Card used to be able to earn 5,000 points by adding an authorized user and having that person make a qualifying purchase. As of Sept. 11, 2018, that opportunity was eliminated.

Expired offer: A limited-time offer that took effect on the Chase Sapphire Preferred® Card in May 2018 dangled the biggest publicly available sign-up bonus the card had seen to that point. The offer was available only on Chase’s site, not through marketplaces like NerdWallet. New cardholders could earn up to 80,000 points, which were doled out in two chunks:

• 50,000 bonus points after spending $4,000 on purchases within the first three months of account opening. This part was the same as the standard bonus on the card at the time.

• 30,000 additional bonus points based on total spending within the first year. The amount a cardholder had to spend varied depending on the offer they were presented with on the Chase site. In some cases, it was $20,000; in others, $30,000.

In a policy change that took effect Aug. 27, 2017, Chase prohibited consumers from holding more than one Sapphire-branded card. Cardholders who already had more than one Sapphire card were allowed to keep them, but the door was shut on new approvals for people already carrying one. So if you have only a Chase Sapphire Preferred® Card, you won’t be approved for a Chase Sapphire Reserve®, and vice-versa.